Stocks to watch: ThaiBev, ST Engineering, First Reit, Vertex Technology

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 28):

Thai Beverage (ThaiBev): The beverage manufacturer posted earnings of 30.1 billion baht (S$1.2 billion) for the full FY2022, up 22.2 per cent from net profit of 24.6 billion baht in FY2021 on higher sales revenue. The group has proposed a final dividend of 0.45 baht per share, higher than the final dividend of 0.35 baht last year. Shares of Thai Beverage ended the week down 0.8 per cent or S$0.005 at S$0.61, before its financial statements were released Friday.

Singapore Technologies Engineering (ST Engineering): The defence and engineering group on Monday posted a 19 per cent rise in revenue of S$6.5 billion for the nine months ended Sep 30, with higher contributions across all business segments. The counter closed 0.6 per cent or S$0.02 higher at S$3.49 on Friday.

First Real Estate Investment Trust (Reit): It has inked a facility agreement with original lenders OCBC and CIMB Singapore for a term loan facility of S$225 million and a revolving credit facility of S$75 million. With the entry into the new facilities, the Reit’s next refinancing requirement is when 10.7 billion yen (S$105.6 million) of TMK bonds of debt is due in May 2025. Units of First Reit closed at S$0.245 on Friday, up 2.1 per cent or S$0.005, before the announcement.

Vertex Technology Acquisition Corporation (VTAC): Morgan Stanley is now a substantial shareholder of Singapore’s first special purpose acquisition company (SPAC), it was announced on Friday. After purchasing over half a million units of SPAC, the financial services company now has a deemed interest of just over 6 per cent. VTAC closed unchanged at S$4.53, prior to the news.